David Zitting's Early Days As A Loan Officer

In David Zitting early days as a loan officer, you had to have your own office. Since he was now a loan officer, he needed an office too. He got one, although it was really more of a broom closet. Broom closet or not, he got to work. He was able to apply his work ethic from his processing training and the natural sales skills picked up from his dad and the time spent at a grocery store. His mortgage career was in high-gear, and man was he nervous! Two or three months after he became an originator he was in the Million Dollar Club. Before he knew it, he was one of the top producers in his office. He had the mortgage fever, one that still fuels him today.

He always tried to find new ways of doing business to make it easier for people to work with him. In those days, real estate agents had to call loan officers for calculating the down payments, closing costs, and monthly payments on an underutilized product that had started to gain popularity in the early 90s—FHA Lending (203b). He mastered these as a processor and truly enjoyed the more elaborate quantifications.

At the time, there were only a handful of people that really understood the product, but it was becoming popular very fast with its low down payment options. It was a complicated process to get the calculations down, and this is where he found his first big way to fill a need. David Zitting wanted an easy way for real estate agents to give accurate information to borrowers looking to buy a home utilizing FHA financing. So, he spent 72 hours making a chart that fit directly into Franklin Day Planners. You’d run your finger down to the sales price on the left and then simply run along to the right to see the down payment, closing costs, title fees—you name it. On the back you would align the sales price with the interest rate, and Eureka, there was the borrower’s total payment.

It was a smash hit! Every agent in town wanted one, and he was first to get his name and contact information in every Franklin Planner he could connect with. Interestingly enough, when he pitched the idea to his boss thinking he would love it, he turned David Zitting down and said it was a waste of time and company resources to produce it. Well, that didn’t stop him for a minute; David knew he was on to something. So he got some money together and paid for the printing himself.

The rest is history. Because he put his contact information on the insert, his office became a revolving door. He couldn’t keep up with all of the FHA volume. He was the town expert. When he was a processor he processed for three loan officers. As a loan officer he had three processors processing for him. Being a loan officer in the early and mid-90s was one of the best experiences of David Zitting life.